CeresNZ express interest in acquiring Mainzeal

CeresNZ, a subsidiary of US
based Ceres Environmental Services, a 35 year old
international disaster recovery company, has announced today
that it has a strong interest in acquiring Mainzeal Property
and Construction.

CeresNZ was established in Christchurch,
when David McIntyre Ceres Environmental Services owner came
to New Zealand before the 2011 devastating earthquakes.
Since the earthquakes, CeresNZ has deployed extensive
resources and mobilised a team, to be a resource to the
community specializing in the areas of:

Bernie de Vere of Ceres New
Zealand says the company has indicated its interest in
acquiring Mainzeal and the company will enter into
preliminary discussions with the receivers. He says,
“while there is a significant process to go through before
a final decision is reached, strategically, CeresNZ see this
as an extremely positive opportunity for growing its
business.”

We believe that as the Christchurch rebuild
picks up steam, it will be beneficial to the recovery that
the successful team of highly skilled people within Mainzeal
be retained as much as possible under a new ownership, so
they may continue with their significant contribution to the
rebuild.

With regards to other projects that Mainzeal are
currently undertaking throughout the country. Mr de Vere
says, “these unfortunate circumstances clearly have
created a huge uncertainty as to how and when they would be
completed. However, while this is very early days, CeresNZ
believes that it would be in everyone’s best interest to
get these projects back on track as soon as
possible.”

As to the likely timing of when CeresNZ might
be in a position to look at a formal offer, Mr de Vere says
that is very much in the hands of the receivers and their
ability to provide us with the necessary information for
undertaking the required due
diligence.

CeresNZ is a demolition, recycling and
Construction Company located in Christchurch and is a
subsidiary of Ceres Environmental Services of the US. Ceres
was one of only four firms contracted by the US Government
for clean-up after Hurricane Katrina disposing of some 10.2
million cubic meters of debris and coordinating more than
1,100 subcontractors in that effort. The contract over three
years to clean up damage to homes and debris around New
Orleans was worth US$1 billion.

Ceres Environmental
Services of the US has been responding to the earthquake in
Haiti and was awarded a contract with the Government of
Haiti on a World Bank funded project to recycle earthquake
debris and manage the only sanctioned landfill in
Port-au-Prince.

CeresNZ was established in Christchurch
when the active owner David McIntyre came to New Zealand
before the 2011 devastating earthquakes. Since the
earthquakes, CeresNZ has deployed extensive resources and
mobilized a team that specializes in these types of natural
disasters.

Ceres Environmental has successfully managed
more than US$1.7 billion of emergency contracts, including
projects with FEMA after Hurricane Katrina through to
supervising multiple debris recycling operations for the
Government of Haiti after the 2010 7.0 earthquake.

After
Hurricane Katrina operations stretched across several
affected states managing over 50 reduction sites processing
10.2 million cubic meters of debris and coordinating more
than 1,100 subcontractors. As a result of the successful
management, Ceres Environmental received the "National
Safety Council's: 1,000,000 Man Hours Award." Additionally,
Ceres also received the very rare "Outstanding Evaluation"
rating from the USACE (United States Army Corp of
Engineers).

Following the devastating 7.0 earthquake
which struck Haiti, Ceres Environmental was contracted by
the World Bank and now employees over 150 Haitian locals.
Ceres Environmental is currently operating one of the most
complicated high risk recovery sites in the Western
Hemisphere which receives more than 200 truckloads of rubble
and recyclables a day. The recyclables get certified and
reintegrated into rebuilding their road system.

Ceres
Environmental has been advising and contracting with global
agencies such as USAID, United Nations, World Vision, World
Bank, FEMA and CERA, responding to the disasters through
strategic recycling and reduction operations, demolition and
reconstruction of cities and towns around the world.

Ceres Environmental provides design-build solutions for
infrastructure, civil and environmental works. Ceres self
performs piling, levee and water control systems. Further to
the underground construction projects, Ceres specializes in
the stabilization and historic preservation elements,
demolition and rebuild of structurally compromised buildings
following natural disasters.

Ceres Environmental has
developed their trademarked innovative approach called the
"Ceres Circle TM", it is the first systematic approach to
address and mitigate the impacts of a natural catastrophe.
It addresses the causal links that may be found to exist
between emissions, weather conditions, run offs and
recycling methods. The Ceres Environmental system of
reduction, reuse, recycling and recovery is the founding
principle in our practices.

As a company dedicated to a
sustainable environment and well managed practices, Ceres
Environmental is an industry leader with an internationally
proven track record.

David McIntyre has significant
property and commercial asset investments in the US.

In
Christchurch CeresNZ had been involved in trying to save the
historic Billens Building, recently hit by fire, and other
heritage projects. It had also set up an office in
Wellington for potential seismic- strengthening
work.

CeresNZ is currently finalizing a number of other
exciting projects as part of the Christchurch rebuild; the
details of which will be released in due course.

The
company is moving into other property-based projects
including the moving of non-damaged houses off damaged land
onto new residential lots.

CeresNZ has also been very
active with significant building deconstruction in
Christchurch, the most visible being the "implosion" on the
14-storey Radio Network House in central Christchurch in
August 2012.

In December 2012, CeresNZ announced it had
purchased Christchurch’s historic Peterborough Centre and
would invest in excess of $25 million to earthquake
strengthen and restore the building.

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